@Benjamin Furney- thanks  1)  sounds like you need to  broaden your market search in order to make the  math work ..think  of  areas  that might be  near the  cities you  intially considered    2)  if you are needing to use  a loan to  buy ..make sure to get  formally  pre approved for whatever  scenario you want to use  before you begin agressively looking 

To broaden that a bit, the property is located in a township, which does have regulations around owning and operating a STR. 

I am suggesting he broaden his field not sit and wait.

Awesome I was looking into Arizona and Texas but I will also now broaden my horizon to Utah and Nevada as well

I know you want to focus on your neighborhood but honestly, you might have better luck if you broaden your search.  

Notably, Thousand Oaks has rent control but is phasing it out.Because a repeal of Costa-Hawkins will substantially broaden the legal alternatives for cities to implement rent control, California landlords currently operating under the protection of the act may need to rethink their investment plans if the measure is approved in November.Investor Insight:If this ballot passes and you own California rental real estate, you may need to reevaluate your investment strategy.

Since you are routinely being outbid, I recommend you broaden your search location to submarkets outside of your desired area where competition may be lessened.

Recently I have seen a high influx of LLC and Partnership agreements related to redevelopment projects and Opportunity Zone Funds; and I am looking to broaden my research and product development related to other needs that investors may have down the road.

Newer investors make the mistake all the time of trying to broaden their net into multiple markets, I understand the logic, but the strategy is quite counterintuitive.

I am a successful Financial professional by trade, and I am now wanting to branch out and learn this business to broaden my business.